Shandong Auto Spring Factory Zibo Co., Ltd. was established on December 13, 2016. It is a subsidiary wholly-owned and owned by Shandong Xingquan Technology Co., Ltd. (formerly Shandong Auto Spring Factory Group Co., Ltd.). It was founded in 1956 and is a company. A professional enterprise integrating R&D, production and sales of automotive steel leaf springs, with a total assets of 270 million yuan and currently 230 employees. It is the vice chairman unit of the Suspension Committee of the China Association of Automobile Manufacturers, a spring industry standard drafting unit, and a national high-tech enterprise , In 2021, it was selected as a specialized and new "little giant" enterprise and a Shandong Gazelle enterprise that was supported by the state.

For many years, the company has been in the leading position in the industry with its high-level R&D capabilities, and its R&D investment has remained above 5.0%. The company now has a Shandong Province "One Enterprise, One Technology" R&D Center and jointly built a Shandong Province Auto Suspension with Shandong University of Science and Technology. The R&D platforms such as the Technology Center have undertaken three provincial technological innovation projects, and have undertaken many new product designs and research projects by industry associations. In recent years, they have been optimizing leaf spring design, improving leaf spring comfort, and developing leaf springs. Significant progress has been made in the research and development of new materials and high stress and lightweight leaf springs.

In terms of talent, the company has a high-level R&D team. The backbone of its team is professionals who have been engaged in the automotive leaf spring industry for many years. It ranks among the top in the country in R&D and manufacturing capabilities. It has participated in the formulation and revision of national standards and standards many times, and is in heavy trucks. Leaf springs, passenger car leaf springs, few-piece parabolic leaf springs, and guide arms have strong R&D and manufacturing capabilities.

In terms of production, the company has domestic advanced automotive steel sheet spring production lines and experimental testing equipment, mature processing technology and complete testing methods. The laboratory has passed the national CNAS laboratory accreditation, and the quality system has passed the IATF16949 quality management system certification. In 2019, a full-process automated production line was built and an automotive steel sheet spring industrial Internet platform was built to achieve informatization coverage of business processes in the entire value chain from R&D design, production management, operation management, products and services, and use cloud-edge collaboration to achieve the Sharing downstream supply chain resources to promote coordinated optimization of the industrial chain.

With the high-quality development of the company, relying on reliable product quality and high-level R&D capabilities to provide supporting services to the domestic commercial vehicle market: China National Heavy Duty Truck, BAIC Foton, JAC Motors, Yutong Bus, etc. In 2018, the company independently developed high-stress Lightweight leaf springs were the first to achieve mass production in China. With its advanced strategic layout and technological advantages, the company successfully entered the Daimler global procurement system in Germany in 2019 and became its regional leaf spring supplier in China; it passed Scania in 2020. Truck companies have a leading position in the industry for POT audits.